Northern Trust Corp Has $66.80 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Northern Trust Corp lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 45.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,469,640 shares of the real estate investment trust's stock after buying an additional 767,640 shares during the period. Northern Trust Corp owned about 1.44% of CareTrust REIT worth $66,804,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Barclays PLC lifted its stake in CareTrust REIT by 264.9% in the 3rd quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust's stock valued at $8,017,000 after purchasing an additional 188,622 shares during the last quarter. World Investment Advisors LLC acquired a new stake in CareTrust REIT during the 3rd quarter valued at $407,000. Tidal Investments LLC bought a new position in CareTrust REIT during the third quarter worth $576,000. Franklin Resources Inc. increased its holdings in shares of CareTrust REIT by 2.3% in the third quarter. Franklin Resources Inc. now owns 58,065 shares of the real estate investment trust's stock valued at $1,754,000 after purchasing an additional 1,318 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust's stock valued at $25,870,000 after purchasing an additional 41,623 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTRE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Wedbush reissued an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Royal Bank of Canada lowered their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock traded down $0.47 during midday trading on Monday, hitting $28.68. 223,732 shares of the company traded hands, compared to its average volume of 1,795,285. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.25 and a beta of 0.88. The firm's fifty day moving average price is $28.16 and its 200-day moving average price is $28.08.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.335 dividend. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.67%. The ex-dividend date was Monday, March 31st. CareTrust REIT's dividend payout ratio is 145.65%.

CareTrust REIT Profile

CareTrust REIT, Inc's (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.